The IMF verdict is in and they suggest now is not the time to adjust policy as “strong fiscal consolidation remains essential”. No wonder the Chancellor went out of his way to stress that they were “the most independent of independent organisations” on his media rounds this morning…

Though their growth forecast for the UK has been revised down to 1.5% for 2011, the headline of “now is not the time to change course” will infuriate a certain blinker…